Shares of Amylin
AMLN
were up 6% to $21.62. The stock tumbled almost 25% Wednesday after the biotech group reported that four more users of its drug Byetta have died. The product is co-marketed with Eli Lilly & Co.
LLY, -2.19%

After Tuesday's market close, Amylin and Lilly officials held a conference call with analysts to discuss a warning issued by U.S. regulators on Aug. 18 that two patients using Byetta had died of complications from pancreatitis, a severe inflammation of the pancreas.

The executives went on to disclose that four more suspected deaths have also been reported among Byetta users. Although none of those deaths was directly attributable to pancreatitis, all of the patients had experienced the condition at some point in their lives.

On Aug. 18, the U.S. Food and Drug Administration advised doctors to discontinue use of Byetta in patients who exhibit symptoms of the condition. See full story.

Lilly's shares, which emerged relatively unscathed from the most recent Byetta news, were down marginally at $46.99.

Also climbing were shares of Alkermes Inc.
ALKS, -1.29%
up 3% at $13.34.

The stock closed down more than 10% Wednesday amid the Byetta news. Alkermes has been working on a long-acting formulation of Byetta with Amylin and Lilly. The companies are hoping to file for U.S. regulatory approval in 2009.

Shares of Novo Nordisk A/S
NVO, +0.00%
were up 1% at $58.32. The Danish drugmaker has developed a rival product to Byetta called liraglutide that is currently awaiting regulatory approval.

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